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Bernadette needs to borrow P2,000 in order to buy furniture. She's approved for two different loans. loans 1 allows her to borrow P2,000 now, provided that she pay-off the loan by returning P2,000 exactly one year from the day that she borrows the money. Loan 2 offer her P2,000 upfront as well, with a similar loan period of one year, at an annual interest rate of 7% .which is the better deal for Bernadette? You put $1000 into an investment yielding 6% annual interest; you left the money in for two years. how much interest do you get at the end of those years? Bernadette invested $500 and received $650 after three years. what had been the interest rate?

Bernadette needs to borrow P2,000 in order to buy furniture. She's approved for two different loans. loans 1 allows her to borrow P2,000 now, provided that she pay-off the loan by returning P2,000 exactly one year from the day that she borrows the money. Loan 2 offer her P2,000 upfront as well, with a similar loan period of one year, at an annual interest rate of 7% .which is the better deal for Bernadette? You put $1000 into an investment yielding 6% annual interest; you left the money in for two years. how much interest do you get at the end of those years? Bernadette invested $500 and received $650 after three years. what had been the interest rate?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Bernadette needs to borrow P2,000 in order to buy furniture. She's approved for two different loans. loans 1 allows her to borrow P2,000 now, provided that she pay-off the loan by returning P2,000 exactly one year from the day that she borrows the money. Loan 2 offer her P2,000 upfront as well, with a similar loan period of one year, at an annual interest rate of 7% .which is the better deal for Bernadette? You put $1000 into an investment yielding 6% annual interest; you left the money in for two years. how much interest do you get at the end of those years? Bernadette invested $500 and received $650 after three years. what had been the interest rate?
Transcribed Image Text:Bernadette needs to borrow P2,000 in order to buy furniture. She's approved for two different loans. loans 1 allows her to borrow P2,000 now, provided that she pay-off the loan by returning P2,000 exactly one year from the day that she borrows the money. Loan 2 offer her P2,000 upfront as well, with a similar loan period of one year, at an annual interest rate of 7% .which is the better deal for Bernadette? You put $1000 into an investment yielding 6% annual interest; you left the money in for two years. how much interest do you get at the end of those years? Bernadette invested $500 and received $650 after three years. what had been the interest rate?
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